#ORDEM_DE_TRUMP EXECUTIVE ORDER
STRENGTHENING AMERICAN LEADERSHIP IN DIGITAL FINANCIAL TECHNOLOGY
January 23, 2025
By the authority vested in me as President by the Constitution and laws of the United States of America, and in order to advance U.S. leadership in digital assets and financial technology while ensuring economic freedom, I hereby order the following:
Section 1. Purpose and Policies
(a) The digital asset industry plays a critical role in innovation and economic development in the United States, as well as in our Nation’s international leadership. Therefore, it is the policy of my Administration to support the growth and responsible use of digital assets, blockchain technology, and related technologies across all sectors of the economy, including:
(i) Protect and promote the ability of citizens and private sector entities to access and use open public blockchain networks for lawful purposes, without persecution, including the ability to develop and deploy software, participate in mining and validation, transact without unlawful censorship, and maintain self-custody of digital assets;
(ii) Promote and protect the sovereignty of the US dollar, including actions to develop and grow legitimate, dollar-backed stablecoins around the world;
(iii) Ensure fair and open access to banking services for all law-abiding citizens and private sector entities;
(iv) Provide regulatory clarity and predictability with technology-neutral regulations, transparent decision-making processes and well-defined regulatory jurisdiction, essential to support a vibrant and innovative digital economy;
(v) Protect Americans from the risks of Central Bank Digital Currencies (CBDCs), which threaten the stability of the financial system, individual privacy, and the sovereignty of the United States, by prohibiting the creation, issuance, circulation, and use of a CBDC within the jurisdiction of the United States.
Section 2. Definitions
(a) For purposes of this order, “digital asset” refers to any digital representation of value recorded on a distributed ledger, including cryptocurrencies, digital tokens, and stablecoins.
(b) “Blockchain” refers to any technology where data is:
(i) Shared across a network to create a public ledger of verified transactions;
(ii) Cryptographically linked to maintain the integrity of the public ledger;
(iii) Distributed among network participants for simultaneous and automatic updating;
(iv) Composed of publicly available source code.
(c) “Central Bank Digital Currency (CBDC)” means a form of digital money or monetary value, denominated in the national unit of account, being a direct liability of the central bank.
Section 3. Repeal of Executive Order 14067 and the Department of the Treasury Framework of July 7, 2022
(a) Executive Order 14067 of March 9, 2022 (Ensuring Responsible Development of Digital Assets) is revoked.
(b) The Secretary of the Treasury shall immediately revoke the “Framework for International Engagement in Digital Assets” issued by the Department of the Treasury on July 7, 2022.
(c) All policies, guidelines, and regulations issued under Executive Order 14067 and the Department of the Treasury Framework shall be revoked to the extent that they are inconsistent with this order.
(d) The Secretary of the Treasury shall take all necessary steps to ensure compliance with the policies of this order.
Section 4. Establishment of the Presidential Working Group on Digital Asset Markets
(a) The Presidential Working Group on Digital Asset Markets is hereby established within the National Economic Council. The group will be chaired by the Special Advisor on AI and Crypto, and will have the following members:
(i) Secretary of the Treasury;
(ii) Attorney General;
(iii) Secretary of Commerce;
(iv) Secretary of Homeland Security;
(v) Director of the Office of Management and Budget;
(vi) National Security Advisor;
(vii) Assistant to the President for National Economic Policy;
(viii) Assistant to the President for Science and Technology;
(ix) Internal Security Advisor;
(x) Chairman of the Securities and Exchange Commission (SEC);
(xi) Chairman of the Commodity Futures Trading Commission (CFTC).
(b) Within 30 days of this order, the agencies involved must identify all regulations and guidelines that affect the digital asset industry. Within 60 days, each agency must submit recommendations on which regulations should be repealed or modified.
(c) Within 180 days, the Working Group shall submit to the President a report with regulatory and legislative proposals that advance the policies set forth in this order, including:
(i) Proposal for a federal regulatory framework for the issuance and operation of digital assets in the US, considering market structure, supervision, consumer protection and risk management;
(ii) Evaluation of the creation of a national reserve of digital assets, possibly derived from cryptocurrencies legally seized by the federal government.
(d) The Chair of the Working Group shall appoint an Executive Director responsible for the day-to-day operations of the group.
(e) The Working Group will hold public hearings and consult with industry experts.
Section 5. Prohibition of Central Bank Digital Currencies (CBDCs)
(a) No government agency may take any action to establish, issue, or promote CBDCs within or outside the United States.
(b) Any plan or initiative related to the creation of a CBDC in the US must be immediately terminated.
Section 6. Severability
If any provision of this order is held to be invalid, the remaining provisions shall remain in effect.
Section 7. General Provisions
(a) Nothing in this order shall be construed as interfering with the lawful authority of any department or agency of the Executive Branch.
(b) This order will be implemented in accordance with applicable law and subject to the availability of resources.
(c) This order does not create any right or benefit enforceable in court against the United States, its agencies, officers, or any other person.
WHITE HOUSE,
January 23, 2025.